|Bid||26.04 x 0|
|Ask||26.07 x 0|
|Day's Range||26.01 - 26.35|
|52 Week Range||21.55 - 27.74|
|Beta (3Y Monthly)||0.77|
|PE Ratio (TTM)||47.14|
|Earnings Date||Aug 8, 2019|
|Forward Dividend & Yield||0.90 (3.33%)|
|1y Target Est||24.18|
FRANKFURT/DUESSELDORF, Germany, June 12 (Reuters) - Some small shareholders in Uniper see room for a tie-up with top shareholder Fortum, joining activist calls to end a standoff after the Finnish group's acrimonious failed takeover attempt. Fortum has been barred by Russian regulators from expanding its 49.99% stake in Uniper which has also opposed a takeover, fearing that the Finnish state-owned firm could break it up and put its investment grade credit rating at risk. "Fortum's interest in Uniper does make sense for some parts, but not for the whole business," Winfried Mathes, analyst at Deka Investment, a top-20 shareholder of Uniper, said, adding that Russia and Sweden represented the best strategic fit.
Norway's $1 trillion sovereign wealth fund may have to sell a $1 billion stake in commodities firm Glencore and other investments to meet tighter ethical investing rules adopted by its parliament. Norway's parliament agreed on Wednesday to the center-right government's plan that the world's largest fund would no longer invest in companies that mine more than 20 million tonnes of coal annually or generate more than 10 gigawatts (GW) of power from coal. Environmental campaigners Greenpeace and Urgewald said the new rules mean the fund would have to divest its 2.03% stake in Glencore, worth $1 billion at the end of 2018 according to fund data.
Fortum's chief executive officer has met with Russian President Vladimir Putin to discuss a key ownership restriction that is preventing the Finnish firm from taking control of German utility Uniper , it said on Tuesday. Government-controlled Fortum has a 49.99% stake in Uniper, but is prevented from raising its holding as Russian authorities have said a licence owned by Uniper's Unipro must not be majority-owned by a foreign state-owned entity. Changing the regulation could pave the way for Fortum to take full control of Uniper and break a long-standing deadlock that has also frustrated activist funds Elliott and Knight Vinke, which together hold nearly 23% of the German firm.
Uniper's chairman on Sunday said talks with major shareholder Fortum to resolve a dispute between the two companies were on hold after two of the German utility's board members resigned. Fortum and Uniper have been at loggerheads since the Finnish state-owned utility tried to take over the German group in 2017, a deal that Uniper's management opposed due to concerns it might get broken up. Fortum, which has a 49.99% stake in Uniper, has claimed that Uniper's board actively tried to block its planned takeover, which Uniper denies.
Uniper's chief operating officer and chief commercial officer will step down by the end of November, the German utility said on Sunday only days after a long-standing conflict with top shareholder Fortum flared up again. Uniper said COO Eckhardt Ruemmler and CCO Keith Martin had asked the group's chairman to terminate their contracts at the end of Nov. 30, 2019. Fortum and Uniper have been at loggerheads since the Finnish state-owned utility tried to take over the German group in 2017, a deal that Uniper's management fiercely opposed due to concerns it might get broken up.
DUESSELDORF, Germany/FRANKFURT, May 22 (Reuters) - Uniper signalled on Wednesday little prospect of a rapid breakthrough in talks with top investor Fortum that might lead to a full takeover of the German utility. Fortum and Uniper have been at loggerheads since the Finnish state-owned utility tried to take over the German group in 2017, a deal that Uniper's management fiercely opposed due to concerns it might get broken up. Russian regulators have barred Fortum from owning more than the current 49.99% in Uniper because of a water-testing licence owned by the German firm's Russian unit Unipro.
DUESSELDORF, Germany/FRANKFURT, May 22 (Reuters) - German energy firm Uniper will not risk its investment grade in fresh talks over cooperation with top shareholder Fortum , Chief Financial Officer Christopher Delbrueck said on Wednesday. "For the Uniper Management Board, ensuring a stable investment-grade rating is the line in the sand for any type of cooperative arrangement," Delbrueck told shareholders at the group's annual general meeting. Finland's Fortum, which failed to take over all of Uniper and has no option to raise its 49.99% stake for regulatory reasons, has started fresh talks with its German peer, raising hopes it will at some point get a majority.
Fortum on Tuesday made progress in talks over cooperation with energy group Uniper , of which it owns 49.99%, shortly after activist funds stepped back from increasing pressure on the Finnish utility to seek full control. Uniper and Fortum have had a strained relationship ever since the Finnish state-owned company launched a takeover bid for the German group in 2017 which Uniper opposed. Now Fortum has struck a deal with activist shareholders Elliott and Knight Vinke to try to resolve a standoff that has paralysed Uniper and has prevented Fortum from acquiring the remaining stake, two people familiar with the matter said.
Activist fund Elliott, Uniper's No.2 shareholder, on Tuesday said it had decided to withdraw a motion that could have forced the German energy group to enter talks over a so-called domination agreement ...
Finland's Fortum, Uniper's top shareholder, will state its position on activist proposals - some of which could trigger a breakup of the German firm - once it has formed a view, a spokeswoman for the group said. Elliott and Knight Vinke, Uniper's second- and third-largest investors, have tabled motions at Uniper's annual shareholder meeting scheduled for Wednesday, which could pave the way for Fortum gaining full control.
Rothschild & Co has decided not to advise India's Adani in the financing or development of the $4 billion (£3.10 billion) Carmichael coal mine in Queensland, Australia, a letter from the bank to an environmental group said. The bank is also not advising the firm on the planned sale of stake in the Abbot Point Coal export terminal, said the May 12 confidential letter to Friends of the Earth, France. The Carmichael coal mine, which has been in planning since 2010, has become a lightning rod for debate on climate change ahead of Australia's May 18 election.
Uniper has rejected a call from activist investor Knight Vinke to spin off its Russian arm to address regulatory concerns that have prevented Finland's Fortum from taking full control of the German utility. Knight Vinke, which holds a 5 percent stake in Uniper, has asked Uniper to table a motion at its May 22 annual shareholder meeting about spinning off Russian utility Unipro. Should shareholders approve the motion, however, Uniper would adhere to the vote and carry out the spin-off, it added.
German utility Uniper saw more usage of natural gas and less of coal in its power generations plants across Europe in the first quarter of 2019, with the main effect in Britain, chief executive Christopher Delbrueck said on Tuesday. Higher carbon emission rights prices created incentives to burn gas, which has around half the CO2 emissions compared with coal, while gas prices fell amid pressure from an inventories build-up in a warm winter, he said in a call with journalists.
Having another hedge fund agitator in the form of Knight Vinke must be misery, especially when it’s making rival demands. Andreas Schierenbeck has decided to give it a go, however, with the former ThyssenKrupp AG executive taking on one of the least tempting vacancies in corporate Europe. The hedge funds are backseat driving, and putative buyer Fortum Oyj has a near 50 percent stake.
LONDON (Reuters) - German utility Uniper said on Thursday it has appointed Mike Lockett as its new UK country chairman. Lockett will combine the role with his current position as chief commercial officer ...
U.S. activist investor Elliott revealed a 1.2 billion euro ($1.3 billion/£1.04 billion) stake in SAP on Wednesday and said it supported a new management efficiency drive, sending shares in the German business software company to a record high. SAP has until now escaped the attention of activist investors, steered by co-founder and Chairman Hasso Plattner who has withstood tough competition from U.S. rivals and is still the biggest shareholder in the German company with 6.5 percent. It reported an adjusted operating margin of 24 percent for the first quarter as it grapples with a catch-up transition to cloud computing.
(Reuters) - U.S. activist hedge fund Elliott Management announced on Wednesday that it had taken a 1.2 billion euro (£1.04 billion)stake in German technology company SAP. Here are some of New York-headquartered ...
Uniper should explore a deeper break-up to overcome antitrust hurdles that have prevented Finland's Fortum from taking full control of the German utility, activist investor Knight Vinke said on Monday. Knight Vinke wants Uniper's management to table a motion at the May 22 annual shareholder's meeting to prepare a spin-off of Unipro, a major Russian utility, according to a letter to Uniper's management board seen by Reuters on Monday. Finnish state-backed Fortum has since 2018 accumulated a 49.9 percent stake in Uniper, but Russian authorities have stopped it from gaining full control, arguing that a water-testing license owned by Unipro cannot be majority owned by a foreign state entity.
Air taxi startup Lilium has hired Uniper chief financial officer Christopher Delbrueck to be its first CFO as it prepares to manufacture and operate a fleet of five-seater, battery-powered aircraft. Delbrueck's move from the utility, which was spun out from E.ON in a 2016 stock market listing, follows a string of high-profile hires at Munich-based Lilium, which has raised more than $100 million in two funding rounds so far. "Obviously to build mass production of the Lilium Jet, further financing at some point will be needed," Delbrueck told Reuters.